Orient Commercial Joint Stock Bank

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on: 
Friday, September 15, 2023
Moody's Investors Service, Strategic Cooperation Agreement, SSB, TCE, Orient Commercial Joint Stock Bank, Payment Guaranteed, Seabank Power Station, Tangible common equity, BCA, Customer, Supply chain finance, Issuer, Supply, B1, Postcodes in the United Kingdom, FMCG, SCF, Security (finance), Bank

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points: 
  • Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
  • The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
  • According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
  • Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on: 
Friday, September 15, 2023
Moody's Investors Service, Strategic Cooperation Agreement, SSB, TCE, Multimedia, Orient Commercial Joint Stock Bank, Payment Guaranteed, Seabank Power Station, Tangible common equity, BCA, Customer, Supply chain finance, Issuer, Supply, B1, Postcodes in the United Kingdom, FMCG, SCF, Security (finance), Bank

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points: 
  • Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
  • The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
  • According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
  • Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

OCB wins big at the 10th edition of Global Brand Awards

Retrieved on: 
Friday, May 26, 2023
Orient Commercial Joint Stock Bank, OCB, Growth, App Store (iOS/iPadOS), GBM

LONDON, May 26, 2023 /PRNewswire/ -- The Global Brand Awards, hosted by Global Brands Magazine (GBM), a renowned international publication headquartered in the UK, is an annual event that acknowledges global brands for their exceptional performance across various sectors. It also serves as a platform to keep readers informed about key trends in the branding world. OCB was evaluated based on criteria such as customer service, satisfaction, digital innovation, strategic relationships, and new business development.

Key Points: 
  • Orient Commercial Joint Stock Bank (OCB) achieved remarkable success at the 10th edition of the Global Brand Awards, securing two prestigious accolades for the year 2022 in Vietnam.
  • LONDON, May 26, 2023 /PRNewswire/ -- The Global Brand Awards, hosted by Global Brands Magazine (GBM), a renowned international publication headquartered in the UK, is an annual event that acknowledges global brands for their exceptional performance across various sectors.
  • Jay Reddy, the Director of Global Brands Magazine, congratulated OCB on their outstanding achievements at the awards ceremony.
  • OCB will provide services via smart mobile applications or computer platforms and every process here will be 100% digitized."

OCB wins big at the 10th edition of Global Brand Awards

Retrieved on: 
Friday, May 26, 2023
Orient Commercial Joint Stock Bank, OCB, Growth, App Store (iOS/iPadOS), GBM

LONDON, May 26, 2023 /PRNewswire/ -- The Global Brand Awards, hosted by Global Brands Magazine (GBM), a renowned international publication headquartered in the UK, is an annual event that acknowledges global brands for their exceptional performance across various sectors. It also serves as a platform to keep readers informed about key trends in the branding world. OCB was evaluated based on criteria such as customer service, satisfaction, digital innovation, strategic relationships, and new business development.

Key Points: 
  • Orient Commercial Joint Stock Bank (OCB) achieved remarkable success at the 10th edition of the Global Brand Awards, securing two prestigious accolades for the year 2022 in Vietnam.
  • LONDON, May 26, 2023 /PRNewswire/ -- The Global Brand Awards, hosted by Global Brands Magazine (GBM), a renowned international publication headquartered in the UK, is an annual event that acknowledges global brands for their exceptional performance across various sectors.
  • Jay Reddy, the Director of Global Brands Magazine, congratulated OCB on their outstanding achievements at the awards ceremony.
  • OCB will provide services via smart mobile applications or computer platforms and every process here will be 100% digitized."

Techcombank and Personetics Partner to Help Vietnamese Customers Improve their Financial Well-Being

Retrieved on: 
Tuesday, April 18, 2023
Professional Services, Data Management, Technology, Finance, Artificial Intelligence, Banking, Heart, Partnership, Life, Intelligence, Multimedia, Orient Commercial Joint Stock Bank, Investment, Knowledge, Bank, Online shopping, Fine chemical, Retail, Techcombank, Personetics Technologies

To help address these concerns, Techcombank has joined forces with Personetics to provide its nearly 11M customers with a hyper-personalized banking experience that helps them achieve financial wellness.

Key Points: 
  • To help address these concerns, Techcombank has joined forces with Personetics to provide its nearly 11M customers with a hyper-personalized banking experience that helps them achieve financial wellness.
  • The partnership will bring new advanced money management capabilities to Techcombank mobile app that have been designed to create an automated, personalized, and independent financial journey for customers.
  • The technology also provides tailored suggestions on savings, asset growth, and card usage to help customers increase their financial resilience and achieve their goals independently.
  • Techcombank is confident that by partnering with high-profile companies like Personetics, they can continue to develop innovative solutions to enhance their customers' banking experience.

IFC invests a US$ 75 million convertible loan in SeABank

Retrieved on: 
Friday, October 14, 2022
People, Seabank Power Station, IFC, Labour, Risk, Investment, OPEC Fund for International Development, International Finance Corporation, Bank, Carbon, Orient Commercial Joint Stock Bank, KASIKORNBANK, Community, Ministry of Lands and Land Resettlement (Zimbabwe), Cultural heritage, Risk management, International development, SME, SSB, Biodiversity

HANOI, Vietnam, Oct. 14, 2022 /PRNewswire/ -- IFC's investment is aimed at impulsing SeABanks's development strategies and increasing access to finance for SMEs and women-owned SMEs. Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities. This will help contribute to Vietnam's climate targets including phasing out coal-fueled power generation by 2040 and achieving net zero carbon emissions by 2050. This commitment by SeABank will be a condition for IFC's consideration to convert this loan to common shares within the next five years.

Key Points: 
  • International Finance Corporation (IFC) invested a US$75 million convertible loan in Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code SSB).
  • IFC will have an option to convert its loan to common shares of SeABank within 5 years.
  • Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities.
  • The new US$ 75 million convertible loan shows IFC's acknowledgment of SeABank's performance, credibility, and commitment to expanding its SME reach-out and addressing climate challenges in Vietnam.

IFC invests a US$ 75 million convertible loan in SeABank

Retrieved on: 
Friday, October 14, 2022
People, Seabank Power Station, IFC, Labour, OPEC Fund for International Development, Risk, Investment, International Finance Corporation, Bank, Carbon, Orient Commercial Joint Stock Bank, KASIKORNBANK, Multimedia, Community, Ministry of Lands and Land Resettlement (Zimbabwe), Cultural heritage, Risk management, International development, SME, View, SSB, Biodiversity

HANOI, Vietnam, Oct. 14, 2022 /PRNewswire/ -- IFC's investment is aimed at impulsing SeABanks's development strategies and increasing access to finance for SMEs and women-owned SMEs. Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities. This will help contribute to Vietnam's climate targets including phasing out coal-fueled power generation by 2040 and achieving net zero carbon emissions by 2050. This commitment by SeABank will be a condition for IFC's consideration to convert this loan to common shares within the next five years.

Key Points: 
  • International Finance Corporation (IFC) invested a US$75 million convertible loan in Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code SSB).
  • IFC will have an option to convert its loan to common shares of SeABank within 5 years.
  • Specifically, in line with IFC's approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities.
  • The new US$ 75 million convertible loan shows IFC's acknowledgment of SeABank's performance, credibility, and commitment to expanding its SME reach-out and addressing climate challenges in Vietnam.

Moody's upgrades SeABank's ratings and assessments to Ba3 from B1

Retrieved on: 
Thursday, September 15, 2022
Seabank Power Station, Orient Commercial Joint Stock Bank, Moody's Investors Service, COVID-19, CueCat, Best, Growth, BCA, Bank, FC, SSB, Financial Times, US, Positive, LC, Asset, Organizational culture, Risk management, Security (finance), Postcodes in the United Kingdom, B1, Technology

HANOI, Vietnam, Sept. 15, 2022 /PRNewswire/ -- Moody's Investors Service (Moody's) - one of the world's big three credit rating agencies has recently upgraded ratings for few reputable Vietnamese banks, SeABank is included. Accordingly, SeABank's long-term local (LC) and foreign currency (FC) deposit and issuer ratings has been upgraded to Ba3 after 4 consecutive years at B1, one notch below Vietnam's sovereign ratings. This is inline with Moody's upgrade of SeABank's Baseline Credit Assessment (BCA) to B1 from B2 with a Positive outlook in April 2022.

Key Points: 
  • Moody's has announced to upgrade ratings of Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code SSB) to Ba3 from B1.
  • Simultaneously, the Bank ranks among "Top 1000 World Banks" by The Banker, reflecting SeABank's strong growth and success in international integration.
  • Accordingly, SeABank's long-term local (LC) and foreign currency (FC) deposit and issuer ratings has been upgraded to Ba3 after 4 consecutive years at B1, one notch below Vietnam's sovereign ratings.
  • This is inline with Moody's upgrade of SeABank's Baseline Credit Assessment (BCA) to B1 from B2 with a Positive outlookin April 2022.

SeABank reached nearly US$120 million pre-tax profit, exceeded 2022's First half business plan

Retrieved on: 
Thursday, July 14, 2022
NPL, IFC, State bank, Senior, Moody's Investors Service, CIR, The State bank, CEO, DFC, CPP Investment Board, Basel II, Investment, TOI, Board, Growth, Seabank Power Station, Orient Commercial Joint Stock Bank, Board of directors, Corporate social responsibility, SSB, Management

HANOI, Vietnam, July 14, 2022 /PRNewswire/ -- Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code: SSB) announced its First half 2022 business results.

Key Points: 
  • HANOI, Vietnam, July 14, 2022 /PRNewswire/ -- Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code: SSB) announced its First half 2022 business results.
  • Accordingly, in the first half of 2022: SeABank's total assets reached US$ 9.82 billion; Pre-tax profit reached nearly US$ 20 million; Total Operating Income (TOI) reached US$ 215 million; Non-interest income (NoII) recorded a growth of US$ 74.2 million.
  • Notably, cost-to-income ratio (CIR) dropped to 30.3% compared to 38.3% as of 2021's first half; NPL ratio decreased to 1.6%.
  • Additionally, SeABank issued 211.4 million shares for dividend payment and 109.7 million shares to increase share capital from stakeholders' equity.

SeABank reached nearly US$120 million pre-tax profit, exceeded 2022's First half business plan

Retrieved on: 
Thursday, July 14, 2022
NPL, IFC, State bank, Multimedia, Senior, Moody's Investors Service, CIR, The State bank, CEO, DFC, CPP Investment Board, Basel II, Investment, TOI, Board, Growth, Seabank Power Station, Orient Commercial Joint Stock Bank, Board of directors, Corporate social responsibility, SSB, Management

HANOI, Vietnam, July 14, 2022 /PRNewswire/ -- Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code: SSB) announced its First half 2022 business results.

Key Points: 
  • HANOI, Vietnam, July 14, 2022 /PRNewswire/ -- Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code: SSB) announced its First half 2022 business results.
  • Accordingly, in the first half of 2022: SeABank's total assets reached US$ 9.82 billion; Pre-tax profit reached nearly US$ 20 million; Total Operating Income (TOI) reached US$ 215 million; Non-interest income (NoII) recorded a growth of US$ 74.2 million.
  • Notably, cost-to-income ratio (CIR) dropped to 30.3% compared to 38.3% as of 2021's first half; NPL ratio decreased to 1.6%.
  • Additionally, SeABank issued 211.4 million shares for dividend payment and 109.7 million shares to increase share capital from stakeholders' equity.